UK: Post-Brexit economic data have shown resilience and even outright strength - BBH

Research Team at BBH, notes that the UK CBI released its distributive trades survey for August and it showed that volume of retailing rose to 9 from -14 in July, while total volume rose to 17 from -11 in July. 

Key Quotes

“Tomorrow, the UK reports Q2 GDP.  So far, the post-Brexit economic data have shown resilience and even outright strength.  Sterling is reflecting this, with cable trading yesterday at its highest level since August 4.  The August 3 high near $1.3370 is within sight, after that is the July 15 high near $1.3480.  Yet to keep things in perspective, cable has retraced less than 25% of the post-Brexit drop.”